Anchorage unemployment remains steady
Anchorage unemployment held steady at 4.7 percent in November, according to the latest employment report released by the Anchorage Economic Development Corp. and sponsored by First National Bank Alaska. With eight of the past nine months’ rates lower than 5 percent, the 2013 annual rate is expected to continue the trend.
The average year-to-date non-seasonally adjusted unemployment rate in Anchorage was 4.9 percent at the end of November, 0.7 percent lower than the 2012 year-to-date average. The total number of unemployed people in Anchorage is estimated at 7,404, which is 260 less than in November 2012.
“Anchorage’s 2013 annual unemployment rate is expected to be under 5 percent, which is well below the national rate of 7 percent and the statewide rate of 6.5 percent,” said Bill Popp, AEDC president and CEO. “We feel optimistic about our economy as we look forward into 2014.”
With losses split between federal and local governments, government employment has declined by 1.57 percent year-to-date, while the private sector has grown by 1.2 percent. The November 2013 average for seven of the 10 major job sectors is above the year-to-date monthly average, indicating that the increase in private sector jobs is likely to be a trend through the end of the year.
The goods producing category, which includes oil and gas, manufacturing and construction, is maintaining growth with 673 more jobs year-to-date than over the same period in 2012. The oil and gas sector is still leading the way with a growth rate of more than 10 percent, an increase of 327 jobs since last year at this point. The construction industry has also done well, with November’s estimate of 8,000 jobs on par with the month’s levels for the past three years.
The full employment report is available at AEDCweb.com.
AEDC is a private, nonprofit membership organization developed in 1987 to encourage growth and to diversify the Anchorage economy. The organization has more than 235 investors, which represent all industries in Anchorage and Alaska. For more information visit www.AEDCweb.com.